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Rockley Photonics Expands the Application of Its Non-Invasive Biomarker Sensing Technology to Support a Wider Range of Medical Equipment and Devices
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Rhea-AI Summary
Rockley Photonics (NYSE: RKLY) has announced strategic partnerships with two major medical equipment manufacturers, enhancing its non-invasive biomarker sensing technology. The partnerships aim to expand applications in health monitoring and early disease detection across various medical devices used in clinics and hospitals. With over $40 billion in combined revenue, these partnerships are expected to facilitate the integration of Rockley’s innovative technology into consumer and medical technologies, pushing forward digital healthcare.
Positive
New strategic partnerships with two top medical equipment manufacturers.
Potential to expand non-invasive biomarker sensing applications in healthcare.
Partnerships valued at over $40 billion in combined revenue, indicating strong industry support.
Advancing mobile health monitoring capabilities for outpatient use.
Negative
None.
Signed new strategic partnerships to accelerate Rockley’s development of real-time, non-invasive biomarker sensing across a range of uses, including monitoring health conditions and providing potential early detection of various diseases
OXFORD, England & PASADENA, Calif.--(BUSINESS WIRE)--
Rockley Photonics (NYSE: RKLY), a leading global silicon photonics technology company, today announced that the company has expanded the range of possible applications for its non-invasive biomarker sensing technology into new segments of the medical technology field. As part of its long-term strategy to deliver photonics-based solutions for improving healthcare and well-being, Rockley has signed new strategic partnerships with two of the world’s top-ten largest medical equipment and device manufacturers, which together have a combined history of over 200 years in the industry and represent over $40 billion of revenue in the medical equipment market.
These multi-year partnerships will focus on evaluating and incorporating the next generation of non-invasive biomarker sensing in medical equipment and devices in various form factors for different parts of the body and for different medical facilities, such as hospitals and clinics. Rockley expects that these partnerships will also help advance potential use cases of real-time, non-invasive biomarker sensing in mobile devices for outpatient monitoring.
“These new applications and partnerships represent a very exciting opportunity for Rockley. Combining our game-changing sensing technology with our partners’ deep knowledge and experience in developing medical equipment and devices could open doors we haven’t even thought of yet,” said Dr. Andrew Rickman, chief executive officer and founder of Rockley Photonics. “We believe that extending our technology into a wider variety of devices for both consumers and medtech will bring us one step closer to our vision of giving people better insights into their health and well-being.”
Rockley’s unique “clinic-on-the-wrist” sensing platform enables device manufacturers to integrate more comprehensive non-invasive biomarker measurements in their products. Rockley’s proprietary photonics-based laser technology significantly expands the range of biomarkers that can be detected and measured by current LED-based sensors. These new measurement capabilities have the potential to transform digital healthcare by providing real-time insights about a variety of health conditions and enabling early detection of multiple disease states.
Rockley is currently conducting human studies to refine the performance of its end-to-end sensing solution. Once these improvements are completed, Rockley believes that its cloud and artificial intelligence (AI) infrastructure can enable additional capabilities for the fast-growing digital health domain and generate real-time health insights for both patients and health care providers.
The new medtech partners join a growing list of high-profile companies in the consumer and medtech domains that are engaging with Rockley on various development activities, with the common goals of providing actionable insights, transforming digital healthcare, and delivering life-changing benefits to people across the globe.
A global leader in silicon photonics, Rockley Photonics (NYSE: RKLY) is developing a comprehensive range of photonic integrated circuits and associated modules, sensors, and full-stack solutions. From next-generation sensing platforms specifically designed for mobile health monitoring and machine vision to high-speed, high-volume solutions for data communications, Rockley is laying the foundation for a new generation of applications across multiple industries. Rockley believes that photonics will eventually become as pervasive as micro-electronics, and it has developed a platform with the power and flexibility needed to address both mass markets and a wide variety of vertical applications.
Formed in 2013 by Dr. Andrew Rickman (who previously founded the first commercial silicon photonics company, Bookham Technology), Rockley is uniquely positioned to support hyper-scale manufacturing and address a multitude of high-volume markets. Rockley has partnered with numerous Tier-1 customers across a diverse range of industries to deliver the complex optical systems required to bring transformational products to market.
Statements in this press release that are not historical facts constitute “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding Rockley’s future expectations, beliefs, plans, objectives, and assumptions regarding future events or performance. The words “accelerate,” “advance,” “anticipate,” “believe,” “can,” “continue,” “could,” “developing,” “enable,” “estimate,” “eventual,” “expand, “expect,” “focus,” “future,” “goal,” “intend,” “may,” “might,” “opportunity,” “outlook,” “plan,” “possible,” “position,” “potential,” “predict,” “project,” “revolutionize,” “seem,” “should,” “trend,” “vision,” “will,” “would” or other terms that predict or indicate future events, trends, or expectations, and similar expressions or the negative of such expressions may identify forward-looking statements, but the absence of these words or terms does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements regarding the following: (a) the anticipated benefits of Rockley’s new strategic partnerships, including the potential to: (i) accelerate Rockley’s development of real-time, non-invasive biomarker sensing across a range of uses, such as health condition monitoring and potential early disease detection, (ii) advance potential use cases of real-time, non-invasive biomarker sensing in mobile devices for outpatient monitoring, (iii) open doors to other opportunities, and (iv) bring Rockley closer to its vision of providing people with better insights into their health and well-being; (b) the possible applications of Rockley’s non-invasive biomarker sensing technology in new segments of the medical technology field and to support a wider range of medical equipment and devices; (c) Rockley’s strategy to deliver photonics-based solutions for improving healthcare and well-being; (d) the anticipated focus of these multi-year partnerships on evaluating and incorporating the next generation of non-invasive biomarker sensing in medical equipment and devices in various form factors; (e) the status and potential results of Rockley’s human trials to evaluate and refine the performance of its sensing solution; (f) the ability of Rockley’s cloud and artificial intelligence infrastructure to enable additional capabilities and benefits for the digital health domain; (g) the ability of Rockley’s “clinic-on-the-wrist” technology to enable device manufacturers to integrate more comprehensive non-invasive biomarker measurement in their products; (h) the potential for Rockley’s proprietary photonics-based laser technology to expand the range of biomarkers that can be detected and measured by current LED-based sensors; (i) the potential of such new measurement capabilities to transform digital healthcare by providing real-time insights about a variety of health conditions and enabling early detection of multiple disease states; (j) the potential benefits of Rockley’s engagement with companies in the consumer and medtech domain on various assessment and development activities, with the goal of providing actionable insights, transforming digital healthcare, and delivering life-changing benefits; (k) the anticipated and potential features and benefits of Rockley’s platform, products, and technology; (l) its development of a range of photonic integrated circuits and associated modules, sensors, and full-stack solutions; (m) Rockley’s belief that photonics will eventually become as pervasive as micro-electronics; and (n) Rockley’s potential to support hyper-scale manufacturing, address a multitude of high-volume markets, and deliver the complex optical systems required to bring transformational products to market.
Forward-looking statements are subject to several risks and uncertainties (many of which are beyond Rockley’s control) or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: (i) Rockley’s ability to achieve customer acceptance and commercial production of its products and technology, including in a timely and cost-effective manner; (ii) Rockley’s ability to achieve customer design wins and convert memoranda of understanding and development contracts into production contracts; (iii) risks related to purchase orders, including the lack of long-term purchase commitments, the cancellation, reduction, delay, or other changes in customer purchase orders, and if and to the extent customers seek to enter into licensing arrangements in lieu of purchases; (iv) Rockley’s history of losses and need for additional capital and its ability to access additional financing to support its operations and execute on its business plan, as well as the risks associated therewith; (v) legal and regulatory risks; (vi) risks associated with its fabless manufacturing model and dependency on third-party suppliers; (vii) Rockley’s reliance on a few significant customers for a majority of its revenue and its ability to expand and diversify its customer base; (viii) Rockley’s financial performance; (ix) the impacts of COVID-19 on Rockley, its customers and suppliers, its target markets, and the global economy; (x) Rockley’s ability to successfully manage growth and its operations as a public company; (xi) fluctuations in Rockley’s stock price and Rockley’s ability to maintain the listing of its ordinary shares on the NYSE; (xii) Rockley’s ability to anticipate and respond to industry trends and customer requirements; (xiii) changes in the current and future markets in which Rockley is or may be engaged; (xiv) risks related to competition and intellectual property; (xv) market opportunity and demand for Rockley’s products and technology, as well as the customer products into which Rockley’s products and technology are incorporated; (xvi) risks related to international operations; (xvii) risks related to cybersecurity, privacy, and infrastructure; (xviii) risks related to financial and accounting matters; (xix) general economic, financial, political, and business conditions, both domestic and foreign; (xx) Rockley’s ability to realize the anticipated benefits of its recently completed business combination with SC Health Corporation; and (xxi) Rockley’s ability to realize the anticipated benefits of strategic partnerships, as well as other factors described under the heading “Risk Factors” in the prospectus/proxy statement filed by Rockley on July 22, 2021, Rockley’s quarterly report on Form 10-Q for the quarter ended June 30, 2021, and in other documents Rockley files with the Securities and Exchange Commission in the future.
The forward-looking statements contained in this press release are based on various assumptions, whether or not identified in this press release, and on Rockley’s current expectations, beliefs, and assumptions and are not predictions of actual performance. If any of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, actual results may differ materially from those discussed in or implied by these forward-looking statements. There can be no assurance that future developments affecting Rockley will be those that have been anticipated. These forward-looking statements speak only as of the date hereof and Rockley specifically disclaims any obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
What is the latest news from Rockley Photonics (RKLY)?
Rockley Photonics has announced new strategic partnerships to enhance its non-invasive biomarker sensing technology, expanding its applications in medical technology.
How much revenue do Rockley's new partners represent?
The new partners represent over $40 billion in combined revenue in the medical equipment market.
What are the expected benefits of Rockley's partnerships?
The partnerships aim to evaluate and incorporate next-generation biomarker sensing into various medical devices, enhancing health monitoring capabilities.
What technology is Rockley Photonics developing?
Rockley is developing a non-invasive biomarker sensing platform designed to provide real-time health insights and improve digital healthcare.
What is Rockley's stock symbol?
The stock symbol for Rockley Photonics is RKLY, traded on the NYSE.
